€2.5M tag on landmark Convent building

A €2.5M guide price has been placed on the landmark former Poor Clare’s Convent building in the heart of Cavan Town.

Brought to market by Sherry FitzGerald Declan Woods, the fully-let, mixed-use property on Main Street is being marketed as a rare investment opportunity, combining strong rental income with significant historical and architectural appeal.

Built circa 1860, with a three-storey return added around 1880, the L-plan, three-storey-over-basement building is a fine example of Gothic Revival architecture. It features sandstone walls, red-brick window surrounds, and a distinctive corner tower at its southern gable.

Listed on the National Inventory of Architectural Heritage also, the building has played a prominent role in the town’s history - though it is not without its darker chapters. Its time as an orphanage is marked by tragedy, including a fire that claimed the lives of 35 children and one adult employee.

Today though the property has been adapted for modern commercial and residential use.

At basement level, it houses the Shades bar and restaurant, with service access via a gated courtyard.

The ground floor also includes three more established retail units - The Sports Shop, Cavan Gifts, and Wild Wardrobe - as well as a single two-bedroom apartment.

The upper floors meanwhile contain 15 apartments: two three-beds, seven two-beds, and six one-beds - all accessed via internal stairwells and a lift.

Currently fully occupied, the property generates €266,940 in annual rental income, rising to €272,940 from January 2026. With a WAULT (Weighted Average Unexpired Lease Term) of 9.31 years, the property offers a stable, long-term income stream for investors.